Pre-Tax Plans & Accounts
If yours is like most companies, your employees pay a portion of the premiums associated with their medical, dental, and vision plans. Federal tax provisions allow them to pay their share of benefit costs on a tax-advantaged basis.
The knowledgeable Benefits Consultants at Towne can help you establish and manage what are known as pre-tax plans and accounts.
Section 125 or Cafeteria Plans
IRS Section 125 plans, commonly known as Cafeteria Plans, let you withdraw workers’ medical, dental, or vision premiums from their checks on a pre-tax basis. So your employees can pay their portion of benefit costs with pre-tax dollars.
Flexible Spending Accounts
Flexible Spending Accounts (FSA) let your employees set aside an annual dollar amount each year (subject to legal limits) on a pre-tax basis, to pay out-of-pocket benefit expenses, including doctor and pharmacy co-pays, deductibles, and certain dental and vision expenses.
Why Towne Insurance for Pre-Tax Plans and Accounts?
As a leading independent insurance agency, Towne has strong relationships with many of the nation’s top insurance carriers. In addition, we work with some of the industry’s best Cafeteria Plan and Flexible Spending Account administrators. Our Benefits Consultants will work closely with you to create the right pre-tax benefit plans, specifically designed to meet your unique business needs.
Towne Insurance and Towne Benefits are part of a culture defined by caring for the people and communities we serve.
Your Pre-Tax Plan and Account Experts
Offering employees a Section 125 plan and/or a Flexible Spending Account is a great way to help them pay their portion of benefit costs on a pre-tax basis.
Contact our Towne Benefits Team today to learn more about how these programs work.